MOF of Vietnam and KDB agreement to support VDB

03/12/2019 11:12

On November 27th, 2019 at the Presidential Palace of ROK, in the witness of Vietnam Prime Minister Nguyen Xuan Phuc and ROK’s President Moon Jae - in, Deputy Minister of Finance of Vietnam Vu Thi Mai and President cum General Director of Korea Development Bank (KDB) Lee Dong Gull signed a Memorandum of Understanding (MOU) between the Ministry of Finance of Vietnam and the Korea Development Bank (KDB) to enhance the operational capacity of Vietnam Development Bank (VDB).

 According to the Memorandum of Understanding, in the coming time, KDB will support the Ministry of Finance of Vietnam (MOFV) and the Vietnam Development Bank (VDB) in studying and finalizing VDB’s organizational and operational policies; researching and implementing the best organizational structure of development financial institutions for VDB; support the implementation of research and training programs to improve the quality of human resources for MOF and VDB; sharing experiences, supporting VDB to build up an effective credit operation process, risk management system, effective internal governance, issuing bank bonds, setting up investment credit limit for projects of infrastructure development and other related contents.

KDB is a Korean development finance institution, established in 1954 with mandates of implementing the ROK’s Government's development finance policies. For more than 60 years of operation, KDB has made important contribution to the ROK , especially in the spearhead areas of Korea such as shipbuilding, automobiles as well as the high technology industries, active and effective support for SME…and recently strong supporter for startup companies. KDB is also a key factor in supporting and developing the bond issuance system in Korea, acting as safety net for financial system in Korea.
With long term effective experience in the field of banking, development finance and policy finance, by this MOU signing with MOFV, KDB committed to support MOFV and VDB to enhance in a synchronized ways mechanisms and policies, to improve VDB's efficiency in management, supervision and operation, gradually build up VDB’s capacity and autonomy meeting with market standards, to enhance credit policies to contribute more effectively to important social-economic infrastructure development of Vietnam Government in the future.
Recently, VDB’s General Director also had a meeting with his counterpart at KDB’s head office. The two Parties also had shared their plan to enhance cooperation activities. They agreed that the MOU signing between MOFV and KDB is surely the strong basis to promote their bilateral cooperation . /.

The Vietnam Development Bank

Tel: (+84-24) 3736 5659

Fax: (+84-24) 3736 5672

Copyright 2011 The Vietnam Development Bank. All rights reserved